Canada’s housing market is cooling: CMHC

From Financialpost.com: House prices are going to go up next year, albeit by a mere $200, according to Canada Mortgage and Housing Corp. The Crown corporation warned that some moderation can be expected in the once red-hot housing sector for the rest of this year and into 2009.

The forecast comes as house prices have been falling nationally, according to the Canadian Real Estate Association. Canada’s largest housing markets have experienced prices declines from a year ago for four straight months, with each percentage drop bigger than the next….. Full Article: Source